If you have an anxiety disorder, this life insurance guide will help you get affordable life insurance from companies that understand mental health conditions.
Anxiety Disorders Quick Overview
There are 5 main types of anxiety disorders, including:
- Generalized Anxiety Disorder (GAD)
- Obsessive-Compulsive Disorder (OCD)
- Panic Disorder
- Post-Traumatic Stress Disorder (PTSD)
- Social Anxiety Disorder
Life insurance underwriting is based on the type of anxiety disorder, the severity of the condition, control of your medical condition and compliance with doctors’ orders.
If you have other conditions such as bipolar or a history of depression, we’ll cover that as well with you when we review your request.
Anxiety Disorders Underwriting Questions
- What condition were you diagnosed with?
- How old were you when diagnosed?
- What medications and dosages do you take?
- Have you changed meds in the past 12 months?
- If yes, what changed?
- How often do you visit with your physician?
- Have you ever been hospitalized for this condition?
- If yes, when and for how long?
- Are you currently receiving disability?
- If yes, when did disability start?
- Would you describe your condition as mild, moderate or severe?
- Do you have any other medical conditions?
- If yes, what do you have?
Keep in mind that we work for you, not the life insurance company. We understand the sensitive nature of medical records.
If you have concerns about your medical history, notes in your records, etc., we can discuss anything with you…and we’ll give you realistic underwriting feedback.
Anxiety may affect life insurance, but chances are you are insurable with a number of life insurers at affordable prices.
Most times when you are denied life insurance due to anxiety, it is due to applying to the wrong company. Most people are readily insurable, even at preferred rates!
While anxiety medication may affect life insurance, underwriters are more concerned with the underlying medical condition.
Life Insurance by Type of Anxiety Disorder
From an underwriting standpoint, life insurers review the type of anxiety disorder you were diagnosed with and categorize anxiety disorders as mild, moderate and severe.
In addition, the underwriter will review favorable and less favorable factors such as:
|Favorable Factors||Less Favorable Factors|
|More than 12 months since diagnosis||Less than 12 months since diagnosis|
|Taking 1-2 medications||More than 2 medications|
|Compliant with medications||Non-compliance with medications|
|Regular follow-up with physicians||Sporadic follow-up with physicians|
|Attends therapy as directed||Skips therapy, sporadic sessions|
|Stable family, work environment||Instability in family, work, etc.|
|No other psychiatric diagnosis||Psychiatric or personality disorders|
|Single episode||multiple episodes|
|No suicide ideation or attempts||Suicide ideation or history of attempts|
Underwriters will review the severity of your condition and the number of above favorable/unfavorable factors as part of underwriting.
Generalized Anxiety Disorder (GAD)
With GAD, underwriters are looking at the severity of the anxiety, and your response to medication and/or therapy.
If your condition is mild and you respond well to medications and/or therapy, there is typically little (if any) negative effect on life insurance rates, and you may even qualify for the best rate classes available.
Underwriters become concerned when the symptoms are more severe. If your anxiety reaches the point where it causes lost time from work, hospitalizations, or you are not taking your medications or going to therapy, that becomes more difficult in underwriting.
Obsessive-Compulsive Disorder (OCD)
With OCD, underwriters look at the medications you take and compliance with therapy.
If your symptoms are controlled and you have consistent follow-ups with your physician, the impact on life insurance rates is minimal.
Underwriting becomes concerned when obsessions and compulsions negatively affect your ability to carry on with daily activities.
During a panic attack, you may have symptoms of a pounding heartbeat, shortness of breath, elevated blood pressure, shaking, sweating, etc.
With panic disorders, life insurers look at how controlled condition is, the medications you take and look for signs that the panic disorder is negatively affecting you.
The severity determines how/if it will negatively affect your life insurance rate.
Post-Traumatic Stress Disorder (PTSD)
With PTSD, underwriters look at the underlying cause, current medical condition and treatment history.
Lost time from work, failure to meet with your physician on a regular basis, any drug or alcohol abuse history, will affect underwriting.
Social Anxiety Disorder
Social phobias may affect life insurance if your current medical condition prevents you from participating in daily activities.
Working with a therapist, taking medications as directed and making improvements over time are all helpful
Anxiety Disorders Summary
Life insurance is available for most people with anxiety disorders, even if you were previously rated or declined by other life insurance companies.
There is no pressure or obligation with our service. We give you the information you need to make an informed decision about your life insurance.
Please take a few minutes to submit your request today. Thank you.